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Ch. 1 Consumer Behavior vs. Marketing Strategy What is Consumer Behavior? The dynamic interaction of affect and cognition, behavior, and environmental.

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Presentation on theme: "Ch. 1 Consumer Behavior vs. Marketing Strategy What is Consumer Behavior? The dynamic interaction of affect and cognition, behavior, and environmental."— Presentation transcript:

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2 Ch. 1 Consumer Behavior vs. Marketing Strategy What is Consumer Behavior? The dynamic interaction of affect and cognition, behavior, and environmental events by which human beings conduct the exchange aspects of their lives. The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

3 Why Is It Important? “The purpose of a business is to create and keep a customer.” -- Ted Levitt Ex: Federal Express A deep understanding of consumers is extremely useful for developing effective marketing strategies. Ex: Pizza, Coffee It is also important to public policy makers.

4 Relationships among Action-Oriented Groups Interested in Consumer Behavior Marketing organizations Marketing strategies Public Policy Government and political organizations Consumer activities Consumers

5 Marketing Strategy External Influence Consumer Behavior Internal Influence Marketing Strategy A plan designed to influence exchanges to achieve organizational objectives. Typically, a marketing strategy is intended to increase the probability or frequency of certain consumer behaviors.

6 Marketing Strategy and Consumer Behavior Individual Firm Society Problem Recognition Information Search Alternative Evaluation Purchase Use Evaluation Product, Price, Distribution, Promotion, Service Identify product-related need sets Group Customers with similar need sets Describe each group Select attractive segment(s) to target Company Competitors Conditions Consumers 1-1 Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Outcomes Consumer Decision Process Marketing Strategy Marketing Segmentation Marketing Analysis

7 Overall Model of Consumer Behavior 1-5 SITUATIONS Problem Recognition Information Search Alternative Evaluation and Selection Outlet Selection and Purchases Postpurchase Processes SITUATIONS EXTERNAL INFLUENCES Culture Subculture Demographics Social Status Reference Groups Family Marketing Activities INTERNAL INFLUENCES Perception Learning Memory Motives Personality Emotions Attitudes SELF-CONCEPT and LIFESTYLE Needs Desires Experiences and Acquisitions

8 Approaches to the Study of Consumer Behavior Approach Primary Objectives Core Disciplines Primary Methods Interpretive Cultural anthropology Understand consumption and its meaning Long interviews & focus groups

9 Approaches to the Study of Consumer Behavior (cont.) Approach Primary Objectives Core Disciplines Primary Methods Traditional Psychology & Sociology Explain consumer decision making and behavior ??

10 Approaches to the Study of Consumer Behavior (cont.) Approach Primary Objectives Core Disciplines Primary Methods Marketing Science Economics & Statistics Predict consumer choice and behavior ??


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